The actor and comedian behind the popular Mr. Bean character has called on drivers to hold off buying an electric vehicle (EV), saying the environmental benefits do not stack up. Rowan Atkinson, a long-time motor enthusiast with a degree and master’s in electrical engineering, said current EV technology was more harmful to the environment than…
‘Eco-Zealots’ Drive Labour’s Energy Policy, Says Sunak
Labour’s energy policy is written by “eco-zealots” who are leading Britain into an energy surrender, Prime Minister Rishi Sunak has said. The Conservative Party leader accused his counterpart Sir Keir Starmer of allowing the Just Stop Oil group, that stages disruptive protests, to affect Labour’s policies. “Not content with disrupting our summer and cherished sporting…
Oil Rises as Saudi Cut Supports and Focus Turns to Fed
LONDON—Oil rose on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to U.S. interest rate hikes offset worries over demand weakness and a global economic slowdown. At an OPEC+ meeting on Sunday, Saudi Arabia said it will cut its crude output by 1 million barrels per day (bpd)…
Shares Stall as Bond Markets Reprice Rate Expectations
June 8, 2023
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LONDON—Borrowing costs in government bond markets rose and share markets stalled on Thursday after a surprise interest rate hike in Canada gave investors their second reminder of the week that the surge in global interest rates isn’t done yet. Asian markets had struggled overnight and the cautious mood continued in Europe as London’s FTSE, Germany’s…
One Australian State Junks $3000 Electric Car Discount
Victorians will soon pay more for electric cars after the state government revealed plans to scrap its $3000 (US$1,999) subsidy for zero-emission vehicles almost one year earlier than planned. The cost-cutting measure revealed on a government website will put the state behind Queensland, New South Wales (NSW), South Australia and Western Australia in electric vehicle…
Supreme Court Rejects Oil Industry Challenge to Reverse Offshore Fracking Ban in California
June 7, 2023
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The U.S. Supreme Court sided with environmentalists and rejected a challenge by the oil industry to reverse an offshore fracking ban in California on June 5. The Environmental Defense Center filed its original lawsuit in 2014 to stop offshore fracking in federal waters, arguing the fracking chemicals could cause environmental issues and kill marine life….
Oil Prices Edge Higher as Saudi Cut Outweighs Bearish Backdrop
LONDON—Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data. Brent crude futures were up 36 cents, or 0.5 percent, at $76.65 a barrel by 0949 GMT while U.S. West Texas Intermediate crude futures gained 37 cents, or 0.5 percent, to $72.11. Both benchmarks…
European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low
June 7, 2023
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LONDON—European stock markets dipped on Wednesday and the U.S. dollar nudged higher as weak Chinese trade data had investors fretting about softening global demand, with attention turning towards next week’s pivotal inflation data and Federal Reserve meeting. Meanwhile, Turkey’s lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures…
IN-DEPTH: Democrats Decry GOP Anti-ESG Hearing as ‘An Attack on Economic Freedom’
June 7, 2023
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Finance and energy experts testified before the House Oversight Committee on Tuesday that the environmental, social, and governance (ESG) movement is impairing Americans’ retirement savings, reducing living standards, and infringing on civil rights, while Democrat members protested that GOP efforts against ESG threatened Americans’ economic freedom. “As American families continue to struggle under rampant inflation,…
Court Upholds Musk’s Win in $13 Billion Lawsuit Over Tesla-SolarCity Deal
A trial court properly found that Tesla Inc. CEO Elon Musk did not push the electric carmaker to overpay for SolarCity in 2016, the Delaware Supreme Court said on Tuesday, ending years of litigation over the $2.6 billion deal. Musk was the biggest shareholder in both companies at the time, and Tesla shareholders alleged the…
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